Waterfront Multifamily
500-522 NE 78 St. Miami, FL 33138
500-522 NE 78 St., Miami, FL, 33138
Contact for pricing
For Sale
Contact for pricing
Pending
Four renovated two-story apartment buildings with 43 units on two contiguous parcels facing Little River.
Days on Market103
Property Features for 500-522 NE 78 St.
General Information
- Standard status
- Pending
- Property subtype
- Multifamily
Listing agency
Eleven Trust Real Estate Services
(305) 244-3880
Listed by
Sharif Bula · License #3057657
Source
Crexi
Added: Apr 11 Updated: Jul 20 at 5:21PM Checked: Jul 21 at 9:50AM
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Investment Insights
Based on property information with market context.
This for-sale portfolio consists of four (4) two-story apartment buildings totaling 43 apartment units on two (2) contiguous parcels, with all buildings facing Little River. Renovations were completed over the past 18 months and include hurricane impact windows, new kitchens, new bathrooms, new floors, and new mini-split HVAC systems. Unit sizes range from 460 to 690 square feet.
The property is described as centrally located, with close proximity to Miami Beach, the MiMo District, Wynwood Arts District, Ironside District, Design District, and Downtown Miami/Brickell Financial District.
Current apartments are generating $700 to $1,300 per month in gross rental income. The offering notes a gross-to-cap positioning of 1.91% and references an opportunity to improve Net Operating Income from $132,006 to $488,318 through a capital improvement plan. The materials also describe an additional owner/developer option to combine the parcels, request a zoning change to T5, and pursue a new five (5)-story mixed-use development with 61 apartment units.
The property is described as centrally located, with close proximity to Miami Beach, the MiMo District, Wynwood Arts District, Ironside District, Design District, and Downtown Miami/Brickell Financial District.
Current apartments are generating $700 to $1,300 per month in gross rental income. The offering notes a gross-to-cap positioning of 1.91% and references an opportunity to improve Net Operating Income from $132,006 to $488,318 through a capital improvement plan. The materials also describe an additional owner/developer option to combine the parcels, request a zoning change to T5, and pursue a new five (5)-story mixed-use development with 61 apartment units.
Key Highlights
- Portfolio of four renovated two‑story apartment buildings with 43 total apartment units on two contiguous parcels facing Little River.
- Renovations completed over the past 18 months: hurricane impact windows, new kitchens, new bathrooms, new floors, and new mini split HVAC systems.
- Unit sizes range from 460–690 SF; current gross rents are $700–$1,300 per month (about $1.52–$2.83/SF).
Property Analytics
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FAQs
What type of property is this?
Apartment building - Four renovated two-story apartment buildings with 43 units on two contiguous parcels facing Little River.
Where is this apartment building located?
The property is located at 500-522 NE 78 St. Miami, FL.
What are key features of this property?
This property features: Portfolio of four renovated two‑story apartment buildings with 43 total apartment units on two contiguous parcels facing Little River.; Renovations completed over the past 18 months: hurricane impact windows, new kitchens, new bathrooms, new floors, and new mini split HVAC systems.; Unit sizes range from 460–690 SF; current gross rents are $700–$1,300 per month (about $1.52–$2.83/SF).
